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What account should the debt service fund credit to record

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Reference no: EM132793179

Problem 1: A debt service fund for the City of Livingston received $300,000 from a capital projects fund. The amount received represented the premium received from the issuance of general obligation bonds. What account should the debt service fund credit to record this receipt?

Multiple Choice

A) Other Financing Sources-Transfer In from Capital Projects Fund.
B) Matured Bonds Payable.
C) Revenue-General Obligation Bond Premium.
D) Due to Capital Projects Fund

Reference no: EM132793179

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